"Foreign exchange reserves fell by $28 million
to $12.016 billion in the week ending on September 10," State Bank
of Pakistan.

(Pakistan's foreign exchange reserves fall. Reserves
held by the SBP dipped to $9.358 billion from $9.362 billion a week
earlier, while those held by commercial banks fell to $2.658 billion
from $2.682 billion)

"The central bank's stance of tight monetary
policy is appropriate and it would rightly be using open market
operation (OMO) as its tool to drain liquidity from the market,"
said the head of money market of a foreign bank.

(The State Bank of Pakistan, in its fortnightly
treasury bills auction on Wednesday, maintained its last cut-off yield
rates.)

"The economic opportunities are growing though
there are still problems of red-tapism in some areas, which are being
addressed," Prime Minister Shaukat Aziz.

(Prime Minister Shaukat Aziz said that continuity and
consistency in economic policies of the government have created a
conducive business environment and numerous sectors were now open for
Investment.)

(The exports of the non-traditional products have
reached to record high of 2.4 billion dollars as compared to just 800
million dollars in 1999, said Chairman Export Promotion Bureau Tariq
Ikram.)

"Pakistan's total external debt and liabilities
still stand at $35.834 billion despite the country has retired or fully
paid off foreign loans amounting to $2.1 billion during the last two
years," claims a government official report presented before the
Senate.

(Pakistan has to pay $34.037 billion external debt
while it's total liabilities stand at $1.797 billion, making a total of
$35.834 billion)

"Services of stitching, dyeing, printing,
embroidery and washing rendered or provided to an exporter or an export
house shall be treated as export and chargeable to tax at the rate equal
to the rate of tax applicable to the exporter on export of goods,"
SRO 946(I)/2005, Income Tax Ordinance 2001.

(The Central Board of Revenue (CBR) has reduced
income tax for companies providing services of stitching, dyeing,
printing, embroidery and washing to five zero-rated export industries
from 5 percent to 0.75 to 1.50 percent)

"Telecom is the fastest growing sector in the
country and because of it Pakistan is now the second fastest growing
telecom market in Asia after China," the Minister for Information
Technology Awais Ahmed Khan Leghari.

(Pakistan is poised to become more attractive place
for investment in telecom and IT sectors as the country would have over
30 million additional faxed and mobile telephones by the end of
2009-10.)

MUMBAI VS NEW ORLEANS!!!!

I couldn't stop making this comparison...

Inches of rain in New Orleans due to hurricane
Katrina................ 18
Inches of rain in Mumbai (July
27th)...................................37.1
Population of New
Orleans..............................................484,674
Population of Mumbai...................................................12,622,500
Deaths in New Orleans within 48 hours of
Katrina.......................100
Deaths in Mumbai within 48hours of
rain................................37.
Number of people to be evacuated in New Orleans... Entire City.........wohh!!!!
Number of people evacuated in Mumbai...................................10,000
Cases of shooting, violence, looting, Chaos in New
Orleans............Countless Cases
Cases of shooting and violence in Mumbai...............................NONE
Time taken for US army to reach New Orleans...........................
48hours
Time taken for Indian army and navy to reach Mumbai....................12hours
Status 48hours later...........New Orleans is still waiting for relief,
army & electricity
Status 48hours later.......... Mumbai is back on its feet and is
business is as usual

Now this is the Best Part of the Comparison!!!!!!!!

USA.............................................world's most
developed nation
India...........................................third world
country......developing